Annual Report Posted
December 21 2009 - 3:00AM
UK Regulatory
TIDMDISL
RNS Number : 4335E
Discover Leisure PLC
21 December 2009
FOR RELEASE
9.00 AM
21 December 2009
Discover Leisure plc
("Discover Leisure" or "the Group")
Posting of Annual Report and Accounts
Discover Leisure plc, the specialist caravan and leisure industry retailer,
confirms that its Annual Report and Accounts for the year ended 31 August
2009 was published earlier today and has been posted to those shareholders who
have requested hard copies.
An electronic copy of the Annual Report and Accounts is also available on the
Investor Relations section of the Group's website
at www.discover.co.uk/corporate.
In addition, the Notice of the Annual General Meeting of the Company, to be held
on 26 January 2010 at 11am at Monckton Court, South Newbald Road, North Newbald,
East Yorkshire, YO43 4RW, was posted to all shareholders.
For more information:
+-------------------------------+-----------------------+--------------------------+
| Discover Leisure plc | Tel: 01430 808 124 |
| David Morrow, Chairman | |
+-------------------------------+--------------------------------------------------+
| Trevor Parker, Chief Executive | |
+-------------------------------------------------------+--------------------------+
| Neil Harwood, Finance Director | |
| | |
+-------------------------------------------------------+--------------------------+
| Panmure Gordon (UK) Limited | Tel: 020 7459 3600 |
+-------------------------------------------------------+--------------------------+
| Andrew Godber / Stuart Gledhill | |
| | |
+-------------------------------------------------------+--------------------------+
| Cubitt Consulting Limited | Tel: 020 7367 5100 |
+-------------------------------------------------------+--------------------------+
| Brian Coleman-Smith / Nicola Krafft / James Verstringhe |
+-------------------------------+-----------------------+--------------------------+
Background Note
Discover Leisure is a leading specialist caravan, motor home and leisure
industry retailer which floated on AIM in May 2005. The Group's strategy is to
lead the consolidation and modernisation of caravan and motorhome retailing in
the UK, which also creates opportunities to sell outdoor leisure products from
its branches and over the internet.
In August 2005, Discover Leisure acquired the company which owned Harringtons
Caravans. On 8 September 2006, it acquired Leisure World, which owned four
caravan retail outlets, for GBP5.75 million, followed on 3 July 2007 by the
acquisition of Barrons Holdings, a leading retailer of caravans, motor homes and
associated accessories with seven retail branches across the country, for
GBP20.0 million. On the same date, Mendip Caravan Centre, which operates three
retail branches, was purchased for a total consideration of GBP2.2 million. On
12 March, 2008, Discover Leisure announced the acquisition of the motor homes
dealership based on a five acre site in Cannock in Staffordshire from the
Brownhills Group for GBP2.66 million.
With a rapid decline in the demand for leisure vehicles following the global
financial crisis in 2008, the Group undertook a major restructuring of the
business in 2009 including the proposal and subsequent approval of a Company
Voluntary Arrangement (CVA), refinancing of its banking facilities and closure
of eleven of its trading sites.
The Group now has 5 branches employing 260 people across the north of England.
The branches are located at: Birtley (Tyneside), Delamere (Cheshire), Chorley
(Lancashire), Darlington (County Durham) and York (Yorkshire). Its head office
is situated in East Yorkshire.
The board consists of David Morrow, Chairman; Trevor Parker, Chief Executive;
and Neil Harwood, Finance Director. The Non Executive Directors are Ian Currie,
Simon Dixon and James Hayward.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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